The Motley Fool Discussion Boards
Financial Planning / Social Security Reform
|Subject: Re: Dead topic||Date: 3/25/2010 4:08 PM|
|Author: PKnudsen||Number: 5232 of 5267|
Although I draw SS, I am also the sole shareholder of an S Corp. As such, I draw a small salary
You're lucky. My father worked well into his 70's and back then you couldn't draw SS while still working until age 72.
I take it by not paying yourself, you can accumulate cash in your corp. Not a bad deal!
The problem with our country is the fact that no one wants to pay extra taxes, but yet want all the entitlements which are funded solely through taxes.
True, but Social Security is a popular benefit. Even wingnuts have aging parents who get it, so I expect it will be funded one way or another.
I've often said that SS should be made actuarilly correct. The way it is, it gives the wingnuts an excuse to call it a ponzi scheme. But I'm guessing FDR wanted to start paying benefits quickly to make it impossible for the Republicans to abolish it, which they'd vowed to do.
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